EnerVest Energy and Oil Sands Total Return Trust
TSX : EOS.UN

EnerVest Energy and Oil Sands Total Return Trust

March 26, 2007 09:30 ET

EnerVest Energy and Oil Sands Total Return Trust Announces Taxation of Distributions Declared in 2006

CALGARY, ALBERTA--(CCNMatthews - March 26, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

For the period ended December 31, 2006, distributions to Canadian resident unitholders of EnerVest Energy and Oil Sands Total Return Trust ("EnerVest") (TSX:EOS.UN) are to be treated for income tax purposes as follows:



1. 45.23457% of the distributions received are taxable as "other taxable
income";

2. 4.38709% of the distributions received are taxable as "actual amount of
eligible dividends";

3. 4.89023% of the distributions received are taxable as "actual amount of
non-eligible dividends";

4. 2.85222% of the distributions received are taxable as "foreign business
income";

5. 0.51638% of the distributions received are taxable as "foreign
non-business income";

6. 42.11951% of the distributions received are return of capital.


The 42.11951% return of capital to unitholders will reduce the adjusted cost base of the unitholder's trust unit. Foreign business tax paid was 0.42003% of the 2006 distributions received.

EnerVest distributed $0.3336 per unit in 2006, consistently distributing $0.0417 per unit per month to unitholders of record on the last trading day of each month commencing in May.

EnerVest is an actively managed closed-end trust which invests in a diversified portfolio of: (i) companies and income trusts involved directly and indirectly in the Canadian oil sands; and (ii) traditional oil and gas royalty trusts. EnerVest's investment objectives are to maximize total return through capital appreciation in the portfolio and to provide Unitholders with a consistent monthly cash distribution.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • EnerVest Oil Sands Management Inc.
    Sean J. H. Morgan
    Chief Financial Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    or
    EnerVest Oil Sands Management Inc.
    Kristie Allen
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    or
    EnerVest Oil Sands Management Inc.
    Linda Koroluk
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    or
    EnerVest Oil Sands Management Inc.
    Suite 2800, 700-9th Avenue S.W.
    Calgary, Alberta, T2P 3V4
    Email: info@enervest.com
    Website: www.enervest.com